Bitcoin rose above $113,000 in late Asian hours on Sunday, its highest level in nearly two weeks, according to Yahoo Finance. Lead negotiators from the United States and China said they had reached “preliminary consensus” on several contentious issues, including export controls, fentanyl and shipping fees.
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US Treasury Secretary Scott Besent told CBS that President Donald Trump’s threat to impose 100% tariffs on Chinese goods is “effectively off the table.” The comments came after two days of talks in Malaysia and ahead of a planned meeting between President Trump and Xi Jinping to finalize a broader agreement.
This development improved risk appetite in global markets, with US and Asian stock futures advancing. Cryptocurrencies joined the move higher, with Ethereum adding 2.6% to trade near $4,060, while BNB and Solana gained nearly 4.5% each. XRP jumped 2.3% to $2.64, extending last week’s rally linked to ETF optimism. Tron’s TRX was the only major token in the red, down 2.9%.
The broader cryptocurrency market value rose 1.8% to $3.72 trillion, reversing some of the declines that followed the series of liquidations earlier in the month. Analysts say the trade easing speech gave traders breathing room after weeks of macroeconomic volatility.
With the Federal Reserve’s next policy meeting less than a week away, a continued breakout will likely depend on the central bank’s tone. Relief on the geopolitical front has, for now, prevented October from finishing as the worst for Bitcoin since 2015.
Source: Market intelligence platform IndexBox
